Stocks slid on major markets across Asia in early trade. S&P/ASX 200 fell 1.93% to 4616.2. Nikkei 225 lost 1.63% to 9,561.42. Hang Seng Index was down 1.59% to 23250.69, while Shanghai Composite slipped 1.01% to 2715.93.
Ord River Resources Limited's (ASX:ORD
) 49%-owned Sino Australian Resources Co., Ltd ("SARCO") signed a Memorandum of Understanding with China Non-Ferrous Metal Industry's Foreign Engineering & Construction Co. Ltd ("NFC") (SHE:000758
) for a proposed Engineering, Procurement and Construction (EPC) contract. Under the Memorandum, NFC will act as SARCO's EPC contractor for the planned 600,000 tonne per annum alumina refinery in Laos and will assist SARCO with arranging project financing from Chinese banks.
Minemakers Limited (ASX:MAK
) signed a Memorandum of Understanding with NMDC Limited (BOM:NMDC
) for the development of the Wonarah Phosphate deposit in the Northern Territory. The proposed development will include a mine and processing facilities to produce phosphate for export and fertiliser products.
Unity Mining Limited (ASX:UML
) has commenced the development of the Newton Zone at the Henty Gold Mine in Western Tasmania. Newton's grade and dimensions are in-line with expectations and its development will contribute significantly to Henty's production in 2012 and beyond. Mineral Resources at Henty doubled to 203,000 ounces of gold in late 2010 and the mine life was extended to around four years.
Discovery Metals Limited (ASX:DML
) reported high grade copper silver intersections from the Plutus deposit within its 100% owned Boseto copper project in Botswana. The Project is currently being constructed and scheduled to commence production in early 2012. Planned production is approximately 36,000 tonnes of copper and more than 1 million ounces of silver per annum over an initial 15 year mine life.
Asian Activities Report for July 15, 2011: Malachite Resources (ASX:MAR) Announce Exciting New Copper-Gold Discovery in Queensland
Australian Market Report of March 6: China's Stimulus Not Delivered
Ironbark Zinc Limited (ASX:IBG) Becoming a Major Base Metal Miner
Ironbark Zinc Limited (ASX:IBG) (OTCMKTS:IRBGY) Agreement with China Nonferrous
Delegates from Over 50 Countries and Regions to Attend the Upcoming CHINA MINING Conference and Exhibition 2011
Australian Market Report of October 18, 2010: Marengo Mining (ASX:MGO) Signs Memorandum Of Understanding With China NFC (SHE:000758) For Copper-Molybdenum-Gold Project In Papua New Guinea
Reed Resources (ASX:RDR) in Talks with NFC (SHE:000758) to Develop Barrambie Project in WA
Asian Markets Overview of March 30
D'Aguilar Gold Limited (ASX:DGR) Announce Dr Matthew White Appointed As CEO Of Archer Resources Limited
Australian Market Report of March 11, 2011: Aquila Resources (ASX:AQA) To Target 2Mtpa Operation At Avontuur Manganese Project In South Africa
Artemis Resources Limited (ASX:ARV) Appoints Andrew Johnstone As Project Director
Australian Market Report of December 24, 2010: Drake Resources (ASX:DRK) Raised A$2.18 Million to Accelerate Drilling Programmes in Sweden and Mauritania
Australian Market Report of September 28, 2010: Discovery Metals Limited (ASX:DML) Renewed Seven Copper Exploration Licences In Botswana
Vango Mining Ltd
Unity Mining Limited
Discovery Metals Limited
China Nonferrous Metal Ind. FE & Const.